Rent and Brokerage for Alternate Accommodation in Home InsuranceA home insurance policy is essential to protect your house and its belongings against physical damages and liability claims arising due to unforeseen calamities. It provides a financial back-up in case your house gets damaged due to natural or man-made perils such as earthquake, storm, floods, fire, theft, burglary etc.
However, a situation may arise when your property might become unfit for living after sustaining severe damages. In such a scenario, you might have to move somewhere else temporarily until your house is fully repaired and you can come back to it.
Is alternate accommodation covered by the home insurance?
Under a comprehensive home insurance plan, you will be covered for the expenses related to your alternate accommodation in case your house becomes uninhabitable. In such a scenario, your insurer will reimburse you with transport and packing costs, rent for hotel/temporary shelter, brokerage charges, and other expenses that you wouldn’t normally incur while living in your house.
How is ‘uninhabitable’ defined?
Be aware that your definition of an uninhabitable home may vary with the insurer’s perspective. Hence, before moving to your alternate shelter, you should always inform your insurance provider and take their approval. If they disapprove your claim, then you might have to bear all the expenses.
Though it varies from insurer to insurer, generally your home is deemed uninhabitable if you cannot use sleeping facilities, kitchen, or bathroom situated in it. Issues such as damage to walls or ceilings of your living room may not be considered as an appropriate reason by the insurers to provide coverage.
What type of accommodation may be provided?
If you’ve to leave your house due to an emergency, your home insurance policy with alternate accommodation cover will help you relocate to a temporary residence which is similar to the one you were residing in. It means that if you’re living in a two-bedroom flat, it’s more than likely that you’ll be provided with a similar 2 BHK house or hotel rooms by the insurer in case the need arises.
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